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Finance for Serbian SME–DevelopmentHindrance 2016 http://ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai/record/1/4412 http://kgk.uni-obuda.hu/meb M. Hadžić P. Pavlović The financial support for SME in Serbia was and still is seen by entrepreneurs as a bottleneck for business start-upand further development. The global crisis fostered development hindrances more thanexpected. The national economy, SME included, suffered very much as all qualitative ratios deteriorated.The Government and the Central Bank introduced countercyclical measures, one of whichwas the raising of financial support for SME, but results were disappointing. As the result of a deteriorating business environment and strong development hindrances, Serbia has been facing a zero rate of growth over the past six years. When it comes to the financial support for SME, the Central Bank has to change its attitude towards institutional liberalisation and development. Given the trend towards stronger financial discipline and a lack of financial resources, the change is even more important. Similarly, both at the national and the local level new institutions and approaches towards more considerable and more sophisticated financial support are crucially important. The aim of the paper is threefold: firstly, to shed light on the problem of finances as one of the main bottlenecksin thedevelopment of Serbian SME; secondly, to analyse the problem of SMEfinancingduring the crisis, including therelationship between investments and the SME development trend, and, thirdly, to highlightthe potential for improvement in the domain of financial support for SME. conferenceObject 9 9 14th International Conference on Management, Enerprise and Benchmarking, Book of Abstarcts